At its July 2008 Board meeting, HBLB approved Draft Budgets for the 9 months from 1 April 2008 to 31 December 2008. The Board also approved the 2009 Budget and Draft Financial Forecasts for 2010 and 2011.
At its July 2008 HBLB Board meeting, it was agreed that a budget of £2.5m for Veterinary Research would be maintained for 2009.
Prize Money Allocation
The HBLB Board at its July 2008 meeting took note of the increase in its 2008 Prize Money allocation of £6.7m from 1st July 2008.
The HBLB, at its July 2008 Board meeting approved a £1,500,000 interest-free loan for Musselburgh racecourse from the 2008/09 Capital Fund towards relocating its stableyard and improving groundstaff facilities.
HBLB Board Composition
At its July 2008 HBLB Board meeting, the Chairman advised that the BHA Chairman, Paul Roy, would take a seat on the Board in September replacing Chief Executive Nic Coward. He thanked Nic for his contribution to the Board’s affairs.